Chhatrapati Shivaji Maharaj Terminus (CSMT), originally named Victoria Terminus (VT) in honour of Queen Victoria, was completed in 1888 in Bombay (now Mumbai) after roughly a decade of construction.

Key facts about the building:

• It was designed by the British architect Frederick William Stevens, who was closely involved in shaping several of Bombay's major public buildings of the era.
• Architecturally, it is celebrated as a striking example of Victorian Gothic Revival architecture — featuring pointed arches, ribbed vaults, flying buttresses, turrets, and stained glass typical of European Gothic buildings — deliberately fused with traditional Indian architectural motifs, such as domes, turrets, and decorative details drawn from Indian palace and temple architecture. This deliberate blending of styles is what makes it stand out among Mumbai's colonial buildings.
• The terminus functioned then, as it does now, as a major railway station, and today serves as the headquarters of the Central Railway and one of the busiest passenger terminals in the country.
• In recognition of its architectural and historical significance, CSMT was declared a UNESCO World Heritage Site in 2004.

Since the question asks specifically for the 1888 building combining Victorian Gothic and Indian architectural elements, the answer is CSMT/Victoria Terminus.

Why the other buildings are incorrect:

• The Bombay Town Hall, completed much earlier (in the early 1830s), was built in a neoclassical style with tall Doric columns, and does not carry the Victorian Gothic-plus-Indian blend or the 1888 completion date.
• The Gateway of India was completed in the 1920s (much later than 1888) and is built in an Indo-Saracenic style, which is a different architectural fusion (Islamic/Mughal and European elements) rather than Victorian Gothic.
• The Rajabai Clock Tower was completed in the late 1870s (before 1888) and, while it does show Gothic influence, it is a university clock tower rather than the specific 1888 landmark the question describes, and is not as famous for Victorian Gothic paired with Indian motifs as CSMT.